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Iraq borrows 10 trillion dinars in 6 months.. How much is its internal debt?
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Economy News - Baghdad
[rtl]The Iraqi government has borrowed 10 trillion dinars during the past 6 months, which has led to an increase in the internal debt by 11%, according to what was stated by the head of the “Iraq Al-Mustaqbal” Foundation for Economic Studies and Consultations, Manar Al-Obaidi.[/rtl]
[rtl]Al-Obaidi said in a post on Facebook, followed by “Al-Eqtisad News”, that the government borrowed 10 trillion dinars in just 6 months, and the following came: 3 trillion dinars from government banks, 4 trillion dinars from commercial banks, and 3 trillion dinars from selling bonds, noting that this borrowing increased the domestic debt by 11% in six months.[/rtl]
[rtl]He added that the total borrowing from these entities amounted to 21 trillion dinars, representing 17% of the volume of deposits in commercial and government banks and 10% of the banks’ assets, in addition to the Ministry of Finance’s obligations to the Central Bank, amounting to 41 trillion dinars, representing 21% of the Central Bank’s assets, indicating, in other words, approximately 15% of the financial sector’s funds are in the form of debts owed to the central government.[/rtl]
[rtl]It would have been more appropriate to invest this money in an investment fund that would provide revenues to the state, increase the volume of non-oil revenues, and be a guarantee for the future of generations, according to Al-Obaidi.[/rtl]
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Added 2024/08/13 - 12:24 PM
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Economy News - Baghdad
[rtl]The Iraqi government has borrowed 10 trillion dinars during the past 6 months, which has led to an increase in the internal debt by 11%, according to what was stated by the head of the “Iraq Al-Mustaqbal” Foundation for Economic Studies and Consultations, Manar Al-Obaidi.[/rtl]
[rtl]Al-Obaidi said in a post on Facebook, followed by “Al-Eqtisad News”, that the government borrowed 10 trillion dinars in just 6 months, and the following came: 3 trillion dinars from government banks, 4 trillion dinars from commercial banks, and 3 trillion dinars from selling bonds, noting that this borrowing increased the domestic debt by 11% in six months.[/rtl]
[rtl]He added that the total borrowing from these entities amounted to 21 trillion dinars, representing 17% of the volume of deposits in commercial and government banks and 10% of the banks’ assets, in addition to the Ministry of Finance’s obligations to the Central Bank, amounting to 41 trillion dinars, representing 21% of the Central Bank’s assets, indicating, in other words, approximately 15% of the financial sector’s funds are in the form of debts owed to the central government.[/rtl]
[rtl]It would have been more appropriate to invest this money in an investment fund that would provide revenues to the state, increase the volume of non-oil revenues, and be a guarantee for the future of generations, according to Al-Obaidi.[/rtl]
Views 56
Added 2024/08/13 - 12:24 PM
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